Korean electronics giant LG has announced plans to invest US $500 million globally towards increasing its workforce as well as its research and development (R&D) of the green technology initiative.
The move LG said is aimed at helping the Korean electronics giant to achieve a target of US $10 billion in global sales by 2013 in its home appliance business.
According to Mr. George Mudhune, the Regional Marketing Manager, for East Africa, the company is now investing millions in research and development to innovate energy saving products especially products using LED lighting and solar power.
“We have a dedicated team to support the consultants and developers in the concept and design stage of our home appliance products. We are confident that the investment into green technology will reduce the burden on the power grid which is currently running on peak,” he said.
Mr.Mudhune said with the establishment of a full line-up of air conditioning systems, LG is planning to evolve into a total solution provider for the Middle East and Africa market.
Through the staggering investment, LG said it had also built up its technical capabilities, by constructing a custom-built AC Academy at Jebel Ali, Dubai, where it is customizing products to the needs of Middle East and Africa consumers.
The AC Academy will be complimented by a recently launched academy in Kenya which is expected to train technical experts in Eastern and Central Africa in the installation and proper use of Air-conditioners.